Electric two-wheeler maker Ola Electric reported widening of its losses in the fourth quarter to Rs 870 crore as against Rs 416 crore in the year-ago quarter.
Revenue from operations in the reporting period declined 62% year-on-year (YoY) to Rs 611 crore.
Deliveries fell to 51,375 units from 1.15 lakh units in Q4FY24. Auto EBITDA margin declined steeply to -78.6% versus -9.3% YoY, and the consolidated EBITDA margin stood at -101.4%, reflecting high provisioning costs and reduced operating leverage during the quarter.
Ola’s gross margin improved marginally to 19.2% on the back of better monetisation and the growing share of Gen-3 platform vehicles, which offer 20% more power and range with 11% lower costs than Gen-2 scooters.
Ola said there have been market share pressures in recent quarters due to execution challenges and slower-than-expected industry growth.
For FY25, Ola Electric recorded total deliveries of 3.59 lakh units, up from 3.29 lakh in FY24. Full-year adjusted revenue came in at Rs 4,665 crore, with a consolidated EBITDA margin of -34.6%.
To broaden adoption beyond urban areas, Ola launched the Roadster X -- the first EV motorcycle from a major OEM in India -- with a 501 km range and 125 km/h top speed.
With motorcycles accounting for twice the scooter market, the company is betting big on rural demand, aided by a strong direct-to-customer (D2C) network spanning over 4,000 touchpoints, half of which are in Tier-3 or rural India.
The company remains optimistic about its path to profitability, backed by operational upgrades, a shift to its Gen-3 platform, and entry into electric motorcycles.
Despite the Q4 hit, Ola forecasts improved numbers in Q1 FY26, targeting Rs 800–850 crore in adjusted revenue and a reduced auto EBITDA margin of -10%. The company expects to break even at less than 25,000 unit sales per month, thanks to cost efficiencies and increased scale.
The company's total gross cash stood at around Rs 4,000 crore at the end of Q4, and it is exploring non-dilutive debt of Rs 1,700 crore to meet obligations.
On Thursday, Ola Electric shares closed 0.55% higher at Rs 53 on NSE.
Revenue from operations in the reporting period declined 62% year-on-year (YoY) to Rs 611 crore.
Deliveries fell to 51,375 units from 1.15 lakh units in Q4FY24. Auto EBITDA margin declined steeply to -78.6% versus -9.3% YoY, and the consolidated EBITDA margin stood at -101.4%, reflecting high provisioning costs and reduced operating leverage during the quarter.
Ola’s gross margin improved marginally to 19.2% on the back of better monetisation and the growing share of Gen-3 platform vehicles, which offer 20% more power and range with 11% lower costs than Gen-2 scooters.
Ola said there have been market share pressures in recent quarters due to execution challenges and slower-than-expected industry growth.
For FY25, Ola Electric recorded total deliveries of 3.59 lakh units, up from 3.29 lakh in FY24. Full-year adjusted revenue came in at Rs 4,665 crore, with a consolidated EBITDA margin of -34.6%.
To broaden adoption beyond urban areas, Ola launched the Roadster X -- the first EV motorcycle from a major OEM in India -- with a 501 km range and 125 km/h top speed.
With motorcycles accounting for twice the scooter market, the company is betting big on rural demand, aided by a strong direct-to-customer (D2C) network spanning over 4,000 touchpoints, half of which are in Tier-3 or rural India.
The company remains optimistic about its path to profitability, backed by operational upgrades, a shift to its Gen-3 platform, and entry into electric motorcycles.
Despite the Q4 hit, Ola forecasts improved numbers in Q1 FY26, targeting Rs 800–850 crore in adjusted revenue and a reduced auto EBITDA margin of -10%. The company expects to break even at less than 25,000 unit sales per month, thanks to cost efficiencies and increased scale.
The company's total gross cash stood at around Rs 4,000 crore at the end of Q4, and it is exploring non-dilutive debt of Rs 1,700 crore to meet obligations.
On Thursday, Ola Electric shares closed 0.55% higher at Rs 53 on NSE.
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